VCE VET FINANCIAL SERVICES
|
|
- Miles Wilson
- 6 years ago
- Views:
Transcription
1 Victorian CertiÞcate of Education 2005 SUPERVISOR TO ATTACH PROCESSING LABEL HERE STUDENT NUMBER Letter Figures Words VCE VET FINANCIAL SERVICES Written examination Thursday 3 November 2005 Reading time: am to noon (15 minutes) Writing time: noon to 1.30 pm (1 hour 30 minutes) QUESTION AND ANSWER BOOK Number of questions Structure of book Number of questions to be answered Number of marks Students are permitted to bring into the examination room: pens, pencils, highlighters, erasers, sharpeners, rulers, an approved graphics calculator (memory cleared) and/or one scientiþc calculator. Students are NOT permitted to bring into the examination room: blank sheets of paper and/or white out liquid/tape. Materials supplied Question and answer book of 29 pages. Instructions Write your student number in the space provided above on this page. All written responses must be in English. Students are NOT permitted to bring mobile phones and/or any other unauthorised electronic devices into the examination room. VICTORIAN CURRICULUM AND ASSESSMENT AUTHORITY 2005
2 VET FINAN SERV EXAM 2 Instructions Answer all questions in the spaces/documents provided. BSAFIN201A PREPARE AND PROCESS FINANCIAL DOCUMENTATION FOR CASH FLOW AND ACCOUNTING PURPOSES Question 1 The following receipt is correct. Compare it to the cheque that follows and record one error only. Apollo Tennis Club 1234 Main Road Apollo Parklands 3095 OfÞcial Receipt No 101 Date Received from Particulars Discount By Cash/Cheque 25 October 2005 S Smith Payment of account $ Per: Signature The Apollo Parklands Credit Union 65 Smith s Gully Rd Apollo Parklands October 2005 Pay: Apollo Tennis Club The sum of: One Thousand Five Hundred Dollars and Fifty Cents $ S Smith Not negotiable S Smith List one error only.
3 3 VET FINAN SERV EXAM Question 2 Compare the receipt with the cheque that follows and record one error from either document. Apollo Tennis Club 1234 Main Road Apollo Parklands 3095 OfÞcial Receipt No 102 Date Received from Particulars Discount By Cash/Cheque 25 October 2005 R Burns Sales $45.45 GST $4.55 $51.00 Per: Signature The Reservoir Building Society 65 Plenty Rd Reservoir 3073 Pay: Apollo Tennis Club The sum of: Fifty One Dollars and no Cents $51.00 R Burns Not negotiable 25 October List one error only. TURN OVER
4 VET FINAN SERV EXAM 4 Question 3 The following credit card voucher has been received. It has been checked against the list of stolen or lost credit cards and it is not on the list. The itemised prices have also been checked and are correct. The store limit for unauthorised transactions is $ SALES VOUCHER /31 12/55 K JONES Authorisation No. Day Month Year QTY DESCRIPTION Dollars Cents 5 Individual Lessons Racquet repair APOLLO TENNIS CLUB APOLLO PARKLANDS VICTORIA B/C M/C VISA Cardholder s signature TOTAL $A List three errors. Error 1 Error 2 Error 3 3 marks
5 5 VET FINAN SERV EXAM Question 4 a. Explain two advantages to a business of an EFTPOS transaction. Advantage 1 Advantage 2 b. List one reason why it is highly recommended to use the term not negotiable when writing a cheque. c. DeÞne the term delivery docket. d. Explain one purpose of a requisition form. TURN OVER
6 VET FINAN SERV EXAM 6 Question 5 a. DeÞne the term GST. b. When would you use the tax code FRE when recording Þnancial transactions? c. Explain the term petty cash voucher. d. Explain the term petty cash advance.
7 7 VET FINAN SERV EXAM Question 6 On 1 November 2005 Apollo Enterprises (address 121 Main St, Apollo Parklands, 3095) sent back the following faulty goods. The goods had previously been purchased on credit from Melbourne Plastics (address 34 Ridge St, Reservoir, 3073). 10 trigger water $1.00 each (GST still to be added) 15 hose $2.00 each (GST still to be added) a. In which document would Melbourne Plastics record the details? b. Record the total monetary amount of the above transactions. Calculation c. Which journal would Apollo Enterprises use to record the transaction? $ TURN OVER
8 VET FINAN SERV EXAM 8 Question 7 You are required to prepare the Cash Payments Journal entry, on page 9, that reimburses the Petty Cash book, on page 8, on 16 November 2005 using a cheque numbered 100. J Smith Apollo Tennis Tuition PETTY CASH BOOK Date 2005 Chq. no. Voucher no. Details Cash received $ c Total payment $ c Amount of GST Amount excl. GST Postage $ c Photocopying $ c Morning teas $ c Courier $ c Sundries $ c Nov 6 Balance b/d Reimbursement A444 2 litres milk Stamps Donation to Salvation Army Photocopies of new price list Printing tennis competition litre milk Biscuits for staff Stamps Photocopying Replacement key Transport of prizes Question 7 continued
9 9 VET FINAN SERV EXAM Apollo Tennis Tuition CASH PAYMENTS JOURNAL Discount received Creditors control Cash purchases Wages Sundries GST paid Bank Date Particulars Folio Chq. no. GST paid Discount received 4 marks Creditors control TURN OVER
10 VET FINAN SERV EXAM 10 BSAFIN302A MONITOR CASH CONTROL FOR ACCOUNTING PURPOSES Question 8 a. State one advantage of paying a creditor using electronic banking. b. Explain the beneþt of the 4/10 net 30 days to a customer. c. What is the purpose of a debit card? d. What is the purpose of a credit card? e. Explain the purpose of a merchant summary.
11 11 VET FINAN SERV EXAM Question 9 Harry s Hardware needs to send out November statements to all customers. Complete the November statement for J Jones by recording the following Þnancial transactions. Balance at 1 November 2005 $ DR 7 Sales Invoice 545 $ Sales Invoice 656 $ Returns Credit note 45 $ Chq. No. 45 (payment of October balance) Harry s Hardware 123 Main St Apollo Parklands November statement for J Jones Date Date Particulars Debit Credit Balance Total amount owing Your prompt attention to this account would be appreciated 5 marks TURN OVER
12 VET FINAN SERV EXAM 12 BSAFIN301A MAINTAIN DAILY FINANCIAL RECORDS FOR ACCOUNTING PURPOSES Question 10 The following information relates to the business of Mark David and Associates, professional paint dealers. On 31 October 2005, the following bank statement was received by the business. a. Complete the balances missing in the Bank Statement below. Account Number Account Title Mark David and Associates The Laiska Banking Company Melbourne Branch Date Details DR CR Balance 2005 Oct 1 Balance Carried Forward 500 DR 5 Chq DR 8 Deposit DR 11 Deposit DR 14 Deposit CR 19 Chq CR 21 Chq DR 23 Dishonoured Chq DR 28 Deposit CR 31 Debit Tax Interest 3 Additional information The bank balance, according to the business records as at 30 September 2005, was $500 credit. The bank notiþed Mark that the cheque deposited on 8 October 2005 would not be honoured. Question 10 continued
13 13 VET FINAN SERV EXAM b. Compare the Bank Statement and the Cash Receipts and Cash Payments Journals, then complete the Cash Receipts and Cash Payments Journals and total the columns. The cash journals for the business for the month of October 2005 are as follows. Cash Receipts Journal Date Details Rec. No. Debtors Services Sales Sundries Bank 2005 Oct 8 N Taleb Cash Fees CRR Sale of paint J Kelly Cash Fee CRR Cash Payments Journal Date Details Chq. No. Creditors Paint Sundries Bank 2005 Oct 5 Paints Phansy paints Cash (Drawings) Phansy paints marks Question 10 continued TURN OVER
14 VET FINAN SERV EXAM 14 c. Using either the T-format or columnar format provided, complete the Bank Account in the ledger for Mark David and Associates. T-FORMAT Mark David and Associates Bank Account Date Details Amount Date Details Amount OR COLUMNAR FORMAT Mark David and Associates Bank Account Date Particulars Debit Credit Balance 3 marks
15 15 VET FINAN SERV EXAM Question 11 a. Prepare a Bank Reconciliation Statement as at 31 October Bank Reconciliation Statement for Mark David and Associates as at 31 October 2005 $ $ b. Identify two beneþts in preparing a Bank Reconciliation Statement. BeneÞt 1 3 marks BeneÞt 2 c. The opening bank balance in the Bank Statement is a DR. What does this mean? d. Mark has stated that the bank reconciliation process is too complex. What can be done to help him? TURN OVER
16 VET FINAN SERV EXAM 16 Question 12 a. Using all of the information provided, complete the Credit Sales Journal of Smart Paints. 9 October J Kelly purchased 3 cans of steel grey $18 each (incl. GST) (Invoice M103) 19 October J Kelly purchased 21 cans of green $25 each (incl. GST) (Invoice M113) Credit Sales Journal Date Details Inv. No. Sales GST collected Debtors control b. Complete the Debtors Subsidiary Ledger for J Kelly, using either the T-format or the columnar format. T-FORMAT Debtors Subsidiary Ledger AA1-J Kelly Date Details Amount Date Details Amount OR COLUMNAR FORMAT Debtors Subsidiary Ledger AA1-J Kelly Date Details Debit Credit Balance
17 17 VET FINAN SERV EXAM Working space TURN OVER
18 VET FINAN SERV EXAM 18 BSAFIN304A PROCESS PAYROLL Question 13 a. What is the purpose of superannuation contributions? Use the Payroll Slip and payroll data for Joe Batchelor below to answer parts b. i. Payroll Slip Tropical Farm Resort Payment Advice Payroll No: 8797 ABN Employee Name: Joe Batchelor Wages Normal Deductions Period End:25/10/2005 to 31/10/2005 Date: 31/10/2005 Category: Z Level: 7 Division: 5 Wages Overtime Superannuation Productivity Bonus GROSS PAY TOTAL DEDUCTIONS Tax NET PAY Payroll data Normal hourly rate: $21.00 Overtime: 1.5 times normal hourly rate Union fees $14.50 per pay Health Insurance is deducted weekly Question 13 continued
19 19 VET FINAN SERV EXAM b. Calculate the percentage of superannuation Joe contributes from his gross pay. Show your calculations in the space below. Answer c. Calculate the normal hours that Joe works. Show your calculations in the space below. Answer d. Joe worked 6 hours overtime. Calculate his overtime and enter it on the payroll slip. Show your calculations in the space below. e. Joe has Þrst aid qualiþcations and is rewarded with an additional $15.00 in his pay each week. Enter this on the payroll slip. f. Joe gets a productivity bonus this pay. Calculate how much it is in the space below and enter it on the payroll slip. Question 13 continued TURN OVER
20 VET FINAN SERV EXAM 20 Tax rates table Income range $ Tax payable $ $ $ % over $ $ % over $ $ % over $ $ % over $ and over $ % over $950 Note: Tax rates above include Medicare Levy g. Calculate the PAYG taxation using the tax rates table. Show your calculations in the space below and enter the answer on the payroll slip. h. Enter Joe s union fees data onto the payroll slip. i. Calculate the amount of private health insurance that is deducted from Joe s pay each week. Show your calculations below and enter the details on the payroll slip. 3 marks
21 21 VET FINAN SERV EXAM FNBFIN68A PREPARE REPORTS FOR MANAGEMENT Question 14 On 30 June 2005 the accountant of Luminous Lights prepared a summary of the Statement of Financial Performance. $ Sales Cost of Goods Sold Operating Expenses Administration Expenses Financial Expenses During the year to 30 June 2006, the owner of Luminous Lights plans to increase sales by 15% reduce the Cost of Goods Sold by 5% maintain operating expenses at the same level reduce administration expenses by $800. In addition, Þnancial expenses will increase due to a loan for $ being taken out on 1 January The interest rate will be 8% per annum. a. Calculate the interest on the loan for the year ended 30 June Calculation $ b. Prepare a Budgeted Statement of Financial Performance for the year ended 30 June Luminous Lights Budgeted Statement of Financial Performance for the year ended 30 June 2006 $ $ 7 marks TURN OVER
22 VET FINAN SERV EXAM 22 Question 15 Suggest two ways the owner of Luminous Lights could reduce the Cost of Goods Sold. Suggestion 1 Suggestion 2 Question 16 Explain the difference between a current asset and a non-current (Þxed) asset. Current asset Non-current (Þxed) asset Question 17 Explain the difference between sundry creditors and creditors control accounts. Sundry creditors Creditors control
23 23 VET FINAN SERV EXAM Question 18 Gayle owns a lawn mowing service. She has come to you with the following Þgures collected on 31 December $ Motor vehicle 6000 GST collected 82 Trailer 820 Capital GST paid 260 Sundry creditors 902 Debtors control 184 Creditors control 88 Bank Mowers 800 Net proþt 806 Tools 140 At 1 January 2005 she had $8 000 invested in the business. Determine Gayle s rate of return on her investment. Calculation % Question 19 Explain the difference between the terms cash payment for electricity and electricity expense. Cash payment for electricity Electricity expense TURN OVER
24 VET FINAN SERV EXAM 24 Question 20 Explain the difference between depreciation of computers and accumulated depreciation of computers accounts. Depreciation of computers Accumulated depreciation of computers Question 21 List two ways that the owner could improve her receipts from debtors. Suggestion 1 Suggestion 2 Question 22 Give management two reasons why it is important to prepare accurate and timely reports. Reason 1 Reason 2
25 25 VET FINAN SERV EXAM BSAFIN305A MAINTAIN FINANCIAL RECORDS FOR REPORTING PURPOSES Question 23 Explain the term prepaid rental income and how you would classify prepaid rental income in a chart of accounts. Prepaid rental income Type of account Question 24 On 1 November 2005 a motor vehicle costing $ incl. GST was purchased on credit from U Beaut Motors Ltd (Invoice no. MV39456). Prepare the General Journal include a narration. General Journal GJ Date Particulars Debit Credit 4 marks TURN OVER
26 VET FINAN SERV EXAM 26 Question 25 Post the following Purchases Journal to the appropriate Control Accounts and Creditors Subsidiary Ledger Accounts using either the T-format (pages 26 27) or the columnar format (pages 28 29). Purchases Journal Date Creditor Folio Inv. no. Purchases GST Paid Creditors Control 2005 Oct H Smith J Jones T Buckley B Voss K MaxÞeld J Jones H Smith Z R8877 Q8787 P Z PJ T-FORMAT L1: Creditors Control Account Date Details Amount Date Details Amount 2005 Oct 1 Balance 3440 A3 GST Paid Account Date Details Amount Date Details Amount 2005 Oct 1 Balance 520 COG1: Stock Control Account Date Details Amount Date Details Amount 2005 Oct 1 Balance 8800 Question 25 continued
27 27 VET FINAN SERV EXAM Creditors Subsidiary Ledger CS1: H Smith Account Date Details Amount Date Details Amount 2005 Oct 1 Balance 180 CS2: J Jones Account Date Details Amount Date Details Amount 2005 Balance 220 Oct 1 CS3: T Buckley Account Date Details Amount Date Details Amount 2005 Balance 1900 Oct 1 CS4: B Voss Account Date Details Amount Date Details Amount 2005 Balance 845 Oct 1 CS5: K MaxÞeld Account Date Details Amount Date Details Amount 2005 Balance 525 Oct 1 Question 25 continued TURN OVER
28 VET FINAN SERV EXAM 28 OR COLUMNAR FORMAT L1: Creditors Control Account Date Particulars Debit Credit Balance Oct 1 Balance 3440 Cr A3: GST Paid Account Date Particulars Debit Credit Balance Oct 1 Balance 520 Dr COG1: Stock Control Account Date Particulars Debit Credit Balance Oct 1 Balance 8800 Dr Creditors Subsidiary Ledger CS1: H Smith Account Date Particulars Debit Credit Balance Oct 1 Balance 180 Cr Question 25 continued
29 29 VET FINAN SERV EXAM CS2: J Jones Account Date Particulars Debit Credit Balance Oct 1 Balance 220 Cr CS3: T Buckley Account Date Particulars Debit Credit Balance Oct 1 Balance 1900 Cr CS4: B Voss Account Date Particulars Debit Credit Balance Oct 1 Balance 845 Cr CS5: K MaxÞeld Account Date Particulars Debit Credit Balance Oct 1 Balance 525 Cr END OF QUESTION AND ANSWER BOOK 4 marks
VCE VET FINANCIAL SERVICES
Victorian Certificate of Education 2012 SUPERVISOR TO ATTACH PROCESSING LABEL HERE STUDENT NUMBER Letter Figures Words VCE VET FINANCIAL SERVICES Written examination Thursday 22 November 2012 Reading time:
More informationACCOUNTING. Written examination 1. Tuesday 12 June 2007
Victorian CertiÞcate of Education ACCOUNTING Written examination 1 Tuesday 12 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination 1. Monday 6 June 2005
Victorian CertiÞcate of Education ACCOUNTING Written examination 1 Monday 6 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination 2. Thursday 8 November 2007
Victorian CertiÞcate of Education 2007 ACCOUNTING Written examination 2 Thursday 8 November 2007 Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour 30 minutes)
More informationACCOUNTING. Written examination. Monday 11 November 2013
Victorian Certificate of Education ACCOUNTING Written examination Monday 11 November Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 2.00 pm (2 hours) QUESTION BOOK Number
More informationACCOUNTING. Written examination 1. Monday 7 June 2004
Victorian Certificate of Education ACCOUNTING Written examination 1 Monday 7 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination 1. Tuesday 11 June 2002
ACCNT EXAM 1A Victorian Certificate of Education ACCOUNTING Written examination 1 Tuesday 11 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION
More informationACCOUNTING. Written examination 1. Tuesday 9 June 2009
Victorian Certificate of Education ACCOUNTING Written examination 1 Tuesday 9 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination 2. Thursday 2 November 2006
Victorian Certificate of Education ACCOUNTING Written examination 2 Thursday 2 November Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour 30 minutes) QUESTION
More informationACCOUNTING. Written examination. Friday 9 November Reading time: 3.00 pm to 3.15 pm (15 minutes) Writing time: 3.15 pm to 5.
Victorian Certificate of Education ACCOUNTING Written examination Friday 9 November Reading time: 3.00 pm to 3.15 pm (15 minutes) Writing time: 3.15 pm to 5.15 pm (2 hours) QUESTION BOOK Number of questions
More informationACCOUNTING. Written examination 2. Thursday 4 November 2004
Victorian Certificate of Education ACCOUNTING Written examination 2 Thursday 4 November Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour 30 minutes) QUESTION
More informationACCOUNTING. Written examination 1. Wednesday 11 June 2008
Victorian Certificate of Education ACCOUNTING Written examination 1 Wednesday 11 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination 1
Victorian Certificate of Education ACCOUNTING Written examination 1 Tuesday 10 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination. Tuesday 6 June Reading time: am to am (15 minutes) Writing time: am to 12.
Victorian Certificate of Education ACCOUNTING Written examination Tuesday 6 June Reading time: 10.00 am to 10.15 am (15 minutes) Writing time: 10.15 am to 12.15 pm (2 hours) QUESTION BOOK Number of questions
More informationACCOUNTING. Written examination 2. Thursday 5 November 2009
Victorian Certificate of Education 2009 ACCOUNTING Written examination 2 Thursday 5 November 2009 Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour 30 minutes)
More informationACCOUNTING. Written examination 2. Monday 12 November 2012
Victorian Certificate of Education ACCOUNTING Written examination 2 Monday 12 November Reading time: 9.00 am to 9.15 am (15 minutes) Writing time: 9.15 am to 10.45 am (1 hour 30 minutes) QUESTION BOOK
More informationVCE Accounting Written examination 1 June
VCE Accounting Written examination 1 June Examination specifications Overall conditions The mid-year examination will be sat at a time and date to be set annually by the Victorian Curriculum and Assessment
More informationACCOUNTING. Written examination 2. Friday 11 November 2011
Victorian Certificate of Education 2011 ACCOUNTING Written examination 2 Friday 11 November 2011 Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour 30 minutes)
More informationACCOUNTING. Written examination 2. Thursday 7 November 2002
ACCNT EXAM 2A Victorian Certificate of Education ACCOUNTING Written examination 2 Thursday 7 November 2002 Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour
More informationVCE Accounting
VCE Accounting 2016 Written examination Examination specifications Overall conditions The examination will be sat at a time and date to be set annually by the Victorian Curriculum and Assessment Authority.
More information2007 VCE VET Financial Services GA 2: Written examination
2007 VCE VET Financial Services GA 2: Written examination GENERAL COMMENTS Students were well prepared for the 2007 VCE VET Financial Services examination. They are reminded to attempt each question and
More informationACCOUNTING. Written examination. Monday 10 November 2014
Victorian Certificate of Education ACCOUNTING Written examination Monday 10 November Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 2.00 pm (2 hours) QUESTION BOOK Number
More informationUnit 3 Accounting. Practice Exam Question Booklet. A non-profit organisation supporting students to achieve their best.
A non-profit organisation supporting students to achieve their best. Practice Exam Question Booklet Duration: 15 minutes reading time, 90 minutes writing time Structure of book: Number of questions Number
More information1 st Year Examination : Summer FINANCIAL ACCOUNTING l NEW SYLLABUS. PAPER, SOLUTIONS and EXAMINERS REPORT
1 st Year Examination : Summer 2009 FINANCIAL ACCOUNTING l NEW SYLLABUS PAPER, SOLUTIONS and EXAMINERS REPORT NOTES TO USERS ABOUT THESE SOLUTIONS The solutions in this document are published by Accounting
More informationSTUDENT NUMBER Letter Figures Words ECONOMICS. Written examination. Friday 5 November 2010
Victorian Certificate of Education 2010 SUPERVISOR TO ATTACH PROCESSING LABEL HERE STUDENT NUMBER Letter Figures Words Section ECONOMICS Written examination Friday 5 November 2010 Reading time: 3.00 pm
More informationLetter STUDENT NUMBER AUSTRALIAN POLITICS. Written examination. Thursday 16 November 2017
Victorian Certificate of Education 2017 SUPERVISOR TO ATTACH PROCESSING LABEL HERE Letter STUDENT NUMBER AUSTRALIAN POLITICS Written examination Thursday 16 November 2017 Reading time: 11.45 am to 12.00
More information2017 Taxation Checklist
2017 Taxation Checklist Yes No Details 1. Have there been changes to personal details? Please advise over INCOME 2. Have you received Payment Summaries (formerly group certificates)? 2a What is your main
More informationACCOUNTING JUNE EXAMINATION GRADE 11
1 ACCOUNTING JUNE EXAMINATION 2015 GRADE 11 MARKS: 300 TIME: 3 HOURS This Question paper consists of 13 pages and 11 pages Answer book INSTRUCTIONS AND INFORMATION 2 1. You are provided with a question
More informationCOMSATS INSTITUTE OF INFORMATION TECHNOLOGY, ABBOTTABAD
COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, ABBOTTABAD Registration # Signature Quiz # 2 and 3 Financial MBA 1(3.5) Instructions: 1. Borrowing of Calculator, Ruler etc. is not allowed 2. Switch off Mobile
More informationFINANCIAL ACCOUNTING II
Question 1 You have been asked to sort out the accounts of a client - Mr Soh, a trader. You collect the following information in respect of the year ended 31st December 2006: Assets and Liabilities at
More informationMYOB Bookkeeping Assessment 1A. Journals. (Note: The number of rows in journals won't necessarily match the number of transactions to be posted)
MYOB Bookkeeping Assessment 1A Journals (Note: The number of rows in journals won't necessarily match the number of transactions to be posted) Sales Journal Date Invoice No Debtor Sales Services $ Sales
More informationUnit 329 (V6) Process financial information for cash transactions for an entity. Easy to follow
Easy Steps Unit 329 (V6) Process financial information for cash transactions for an entity Easy to follow Step-by-step instructions Covers Unit Standard Criteria A Cheryl Price Publication Unit Standard
More informationLetter STUDENT NUMBER ECONOMICS. Written examination. Thursday 1 November 2018
Victorian Certificate of Education 2018 SUPERVISOR TO ATTACH PROCESSING LABEL HERE Letter STUDENT NUMBER ECONOMICS Written examination Thursday 1 November 2018 Reading time: 2.00 pm to 2.15 pm (15 minutes)
More informationThree hours plus 10 minutes reading time
MACQUARIE University This question paper must be returned. Candidates are not permitted to remove any part of it from the examination room. SEAT NUMBER:... FAMILY NAME:... OTHER NAMES:... STUDENT NUMBER:
More informationJUNE EXAMINATION PAPER 200 marks 2 hours GRADE 10 ACCOUNTING
JUNE EXAMINATION PAPER 200 marks 2 hours GRADE 10 ACCOUNTING INSTRUCTIONS AND INFORMATION: 1. Answer ALL the questions in the Answer Book provided. 2. Show all workings/calculations in order to achieve
More informationExamination for the Bachelor s Degree
Examination for the Bachelor s Degree name: exam in module: Accounting I nationality: 1st examiner: grade: 1st examiner: Berkau / Rosenberg sign.: matriculation number: 2nd examiner: grade: date: January
More informationACC100 Introduction to Accounting
ACC100 Introduction to Accounting Week 4 Recording Transactions Chapter 3 - Recording Transactions Study Group Australia Pty Limited, SGA1286-F2/10/12 2 Learning Outcomes On completion of this week s study,
More informationDescription of Policy. University-wide Specific (outline location, campus, organisational unit, etc.) Policy applies to
Name of Policy Description of Policy Policy applies to University Credit (Purchase) Card Policy This policy describes when entertainment and hospitality is appropriate and the process for application and
More informationGeneral Certificate of Education June 2007 Advanced Subsidiary Examination. Unit 1 Financial Accounting: The Accounting Information System
Surname Centre Number Other Names Candidate Number For Examiner s Use Candidate Signature General Certificate of Education June 2007 Advanced Subsidiary Examination ACCOUNTING Unit 1 Financial Accounting:
More information2010 Accounting GA 1: Written examination 1
Accounting GA 1: Written examination 1 GENERAL COMMENTS The June examination comprised of two 45-mark questions, with multiple parts to each question. Each question presented a business scenario which
More informationSupplemental Instruction Handouts Financial Accounting Review of Chapters 5, 6, 7 and Appendix II
Supplemental Instruction Handouts Financial Accounting Review of Chapters 5, 6, 7 and Appendix II 1. The following transactions were recorded by Carmen s Antique Shop for the month of June. June 1 st purchased
More informationInternational General Certificate of Secondary Education CAMBRIDGE INTERNATIONAL EXAMINATIONS PAPER 2 OCTOBER/NOVEMBER SESSION 2002
www.xtremepapers.com Centre Number Candidate Number Candidate Name International General Certificate of Secondary Education CAMBRIDGE INTERNATIONAL EXAMINATIONS ACCOUNTING 0452/2 PAPER 2 OCTOBER/NOVEMBER
More informationCAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
www.xtremepapers.com Centre Number Candidate Number Name CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/03 Paper 3 Candidates answer on the
More informationVCE Further Mathematics Unit 3 Recursion and financial modelling SAC Part II, 2017
VCE Further Mathematics Unit 3 Recursion and financial modelling SAC Part II, 2017 Writing Time: 55 minutes QUESTION AND ANSWER BOOKLET Structure of SAC: Extended Response Questions Number of Number of
More informationBefore you begin. Topic 1: Maintain daily financial records 1
Contents Before you begin vii Topic 1: Maintain daily financial records 1 1A Maintain daily financial records 2 1B Identify, rectify and refer errors 13 1C Enter transactions into journals 29 Summary 45
More informationSupplemental Instruction Handouts Financial Accounting Answer Key for Final Review of Chapters 5, 6, 7 & Appendix II
Supplemental Instruction Handouts Financial Accounting Answer Key for Final Review of Chapters 5, 6, 7 & Appendix II 1. Page 2_ June 1 Merchandise Inventory 2,500 Payable Dave s Wholesalers 2,500 June
More informationFinancial Accounting
Financial Accounting Roll No.... : 1 : 153 Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 8 NOTE : Answer SIX questions including Question No.1
More informationCERTIFICATE IN BOOK-KEEPING
Series 3 Examination 2012 CERTIFICATE IN BOOK-KEEPING Level 1 Tuesday 5 June Subject code: 1017 Time allowed: 2 hours 30 minutes INSTRUCTIONS FOR CANDIDATES Answer all 4 questions. All questions carry
More informationITL Public School Annual Examination ( )
ITL Public School Annual Examination (2015-1) Date: 29.02.1 Class: XI Accountancy (055) (Set -B) Time: hrs M. M: 90 General Instructions: 1. All questions are compulsory 2. Marks for each question are
More informationNew_SA_GAAP Planning by Reviewed Performed by Final review 11.15
1. General 1.1. A balanced trial balance 1.2. Draft financial statements 1.3. Copies of minutes and resolutions not yet pasted into the minute books including those in the process of being signed. Statutory
More informationFUNDAMENTAL ACCOUNTING (01)
13 Pages Contestant Number Time Rank FUNDAMENTAL ACCOUNTING (01) Regional 2009 Multiple Choice (30 @ 2 points each) Account Identification (39 @ 1 point each) Production Portion Problem 1: Journalizing
More informationAccounts Preparation - Year End Questionnaire 2017
Accounts Preparation - Year End Questionnaire 2017 Client: Date: This Accounts Preparation - Year End Questionnaire is designed to save you time and money. The effort you invest to complete this questionnaire
More informationYou will also have to reconcile the superannuation and donations for June.
PART C Report on Payroll Activities [see next page] Task 13: Using your Payroll Checklist, reconcile wages, deductions and superannuation for the year. [see attached] You will also have to reconcile the
More informationAward in Computerised Accounting Skills
Award in Computerised Accounting Skills ASE20055 Level 3 Time allowed: 3 hours Instructions You should read through the assignment carefully before you begin. You must attempt all tasks in the order given.
More informationPearson Edexcel International GCSE Accounting Paper 1 Time: 2 hours 30 minutes 4AC0/01 You do not need any other materials.
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Tuesday 23 January 2018 - Morning Time: 2 hours 30 minutes You do not need
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/02
Centre Number Candidate Number Name UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/02 Paper 2 Candidates answer on the Question
More informationACCOUNTING PAPER I. 1. This paper consists of 9 pages. Please check that your question paper is complete.
GRADE 11 EXAMINATION NOVEMBER ACCOUNTING PAPER I Time: 2 hours 200 marks PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY 1. This paper consists of 9 pages. Please check that your question paper is complete.
More informationFUNDAMENTAL ACCOUNTING (100) Secondary
Page 1 of 11 Contestant Number: Time: Rank: FUNDAMENTAL ACCOUNTING (100) Secondary REGIONAL 2016 CONCEPT KNOWLEDGE: True/False (20 @ 2 points each) Multiple Choice (25 @ 2 points each) APPLICATION KNOWLEDGE:
More informationLevel 2 Accounting, 2010
9 0 2 2 4 2 902240 For Supervisor s Level 2 Accounting, 2010 90224 Prepare financial statements and related accounting entries for sole proprietors Credits: Five 2.00 pm Monday 15 November 2010 Check that
More informationCycle Test 1: Term 1 Grade 11 Accounting February 2014 BANK RECONCILIATIONS, CREDITORS RECONCILIATIONS, ETHICS AND CONTROLS
Cycle Test 1: Term 1 Grade 11 Accounting February 2014 BANK RECONCILIATIONS, CREDITORS RECONCILIATIONS, ETHICS AND CONTROLS Examiner: J Cansfield Marks: 100 Time: 1 hour Instructions: 1. Answer on this
More informationFor other subjects, go to
MAY/JUNE 2006 FINANCIAL ACCOUNTING 1. Explain briefly the following terms i. Bank statement ii. Bank reconciliation statement iii. Uncredited cheques iv. Unpresented cheques v. Dishonoured cheques. Answers:
More informationACCN1 (JAN12ACCN101) General Certificate of Education Advanced Subsidiary Examination January Introduction to Financial Accounting TOTAL
Centre Number Surname Candidate Number For Examiner s Use Other Names Candidate Signature Examiner s Initials Accounting General Certificate of Education Advanced Subsidiary Examination January 2012 ACCN1
More information2010 Paper 2 Business Exam Answers JC-Learn. JC-Learn. Business Studies. Higher Level Exam - Paper 2. 1 P a g e
JC-Learn Business Studies Higher Level 2010 Exam - Paper 2 1 P a g e 1. This is a Book of First Entry, Ledger and Trial Balance Question. Answer all parts of this question: SMITH Ltd, a clothing company,
More informationFinancial procedures manual
Contents Introduction... 2 Finance authorisation procedure... 2 Bank account procedure... 3 Petty cash procedure... 4 Use of business credit card procedure... 5 New supplier procedure... 6 New customer
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
2014. S42 Coimisiún na Scrúduithe Stáit State Examinations Commission JUNIOR CERTIFICATE EXAMINATION 2014 BUSINESS STUDIES ORDINARY LEVEL TUESDAY 10 JUNE 2014 MORNING 9.30-12.00 SECTION B (300 marks) All
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/02
Centre Number Candidate Number Name UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/02 Paper 2 Candidates answer on the Question
More informationACCOUNTING PRINCIPLES
ACCOUNTING PRINCIPLES ENTITY The business must be a separate accounting entity from its owner and from other entities. This includes multiple businesses as they are each a separate accounting entity in
More informationINTRODUCTION TO FINANCIAL ACCOUNTING
INTBUS NOVEMBER 2013 EXAMINATION DATE: 6 NOVEMBER 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (IFA-01) INTRODUCTION TO FINANCIAL ACCOUNTING THIS EXAMINATION PAPER CONSISTS
More information*P45581A0124* 4AC0/01. P45581A 2016 Pearson Education Ltd. Pearson Edexcel International GCSE Accounting Paper 1
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Friday 13 May 2016 Morning Time: 2 hours 30 minutes You do not need any other
More informationRequired: Draw up a three-column cash book to record the above transactions and balance off the cash book at the end of the month.
Chapter 1 Books of original entry and ledgers (I) Mary Company had the following transactions during the month November 2014: Nov 3 Credit purchases from: Hilary Lam $13,580, Tammy Yiu $55,500. 5 Credit
More informationThis exam paper is in two sections. You should try to complete every task in both sections.
Exam NVQ/SVQ Level 2 in Accounting Preparing Ledger Balances and an Initial Trial Balance (PLB) 2003 Standards Tuesday 4 December 2007 (afternoon) Time allowed 3 hours plus 15 minutes reading time Please
More informationFinancial Services. Total marks 80. Section I Pages marks Attempt Questions 1 15 Allow about 20 minutes for this section
2016 HIGHER SCHOOL CERTIFICATE EXAMINATION Financial Services Total marks 80 Section I Pages 2 6 General Instructions Reading time 5 minutes Working time 2 hours Write using black pen Board-approved calculators
More informationLetter STUDENT NUMBER ECONOMICS. Written examination. Thursday 27 October 2016
Victorian Certificate of Education 2016 SUPERVISOR TO ATTACH PROCESSING LABEL HERE Letter STUDENT NUMBER ECONOMICS Written examination Thursday 27 October 2016 Reading time: 2.00 pm to 2.15 pm (15 minutes)
More informationMTP_Intermediate_Syllabus 2016_June2019_Set1 Paper 5- Financial Accounting
Paper 5- Financial Accounting Dos, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks : 100 Time allowed: 3 hours Section
More informationFINANCIAL ACCOUNTING 1
FINBUS2 NOVEMBER 2013 EXAMINATION DATE: 4 NOVEMBER 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-AC1) FINANCIAL ACCOUNTING 1 THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS:
More informationYEAR 10 ACCOUNTING & FINANCE
YEAR 10 ACCOUNTING & FINANCE TERM 1 MODELLED ON 1A ACF COURSE Scope: Personal Finance Week Content Objectives Resources Assessment 1 Personal Financial Management Interpretation of information relevant
More informationLetter STUDENT NUMBER ECONOMICS. Written examination. Thursday 2 November 2017
Victorian Certificate of Education 2017 SUPERVISOR TO ATTACH PROCESSING LABEL HERE Letter STUDENT NUMBER ECONOMICS Written examination Thursday 2 November 2017 Reading time: 2.00 pm to 2.15 pm (15 minutes)
More information(50) BASIC ACCOUNTING
All Rights Reserved Time: 03 hours THE ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA Instructions to candidates FOUNDATION EXAMINATION - JANUARY 2013 (50) BASIC ACCOUNTING (1) This paper consists
More informationTuesday 6 December 2005 (afternoon) EXAMINATION. Time allowed - 3 hours plus 15 minutes reading time
NVQ/SVQ Level 2 in Accounting Preparing Ledger Balances and an Initial Trial Balance (PLB) (2003 standards) Tuesday 6 December 2005 (afternoon) EXAMINATION Time allowed - 3 hours plus 15 minutes reading
More informationChapter 5. Control Accounts. Notes to teachers
Chapter 5 Control Accounts Notes to teachers 1 Start with Chapters 3 and 4 of Frank Wood s Introduction to Accounting and briefly explain to students the basic principles of recording in the books and
More informationFINANCIAL STATEMENTS: INCOME STATEMENT & ASSET DISPOSAL 08 AUGUST 2013
FINANCIAL STATEMENTS: INCOME STATEMENT & ASSET DISPOSAL 08 AUGUST 2013 Lesson Description In this lesson we: Focus on income statement adjustments and calculating profit/loss on sale of asset. Questions
More informationAward in Computerised Accounting Skills
Award in Computerised Accounting Skills ASE20055 Level 3 Time allowed: 3 hours Instructions You should read through the assignment carefully before you begin. You must attempt all tasks in the order given.
More informationFANLING LUTHERAN SECONDARY SCHOOL
FANLING LUTHERAN SECONDARY SCHOOL 2012 2013 2 nd Term Examination S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module Date : 20th June, 2013 Time allowed: 8:30 am - 11:00 am (2 hour 30 minutes)
More informationThis exam paper is in two sections. You should try to complete every task in both sections.
Exam NVQ/SVQ Level 3 in Accounting Maintaining Financial Records and Preparing Accounts (FRA) 2003 Standards Advanced Certificate in Accounting (Diploma Pathway) Financial Accounting (FRA) 2003 Standards
More informationFinancial Accounting Basics [AA11] Supplementary for Chapter 02. Prime Entry Books
Financial Accounting Basics [AA11] Supplementary for Chapter 02 This supplementary to the Study Text will be tested from January 2019 Examination. The printed chapter in the book will not be applicable
More informationCopyright Notice: Written by: Publishers: ISBN Revised Edition: 25 July FNSBKPG405A Establish and maintain a payroll system
A Step by Step Approach to Establishing and Maintaining a Payroll System using MYOB Accounting Plus v18 Copyright Notice: Copyright 2008 Marian Brown. All rights reserved. No part of this material may
More informationACCOUNTING ACC1 Unit 1 Financial Accounting: The Accounting Information System You will need no other materials. Instructions all Information ACC1
Surname Other Names For Examiner s Use Centre Number Candidate Number Candidate Signature General Certifi cate of Education June 2008 Advanced Subsidiary Examination ACCOUNTING ACC1 Unit 1 Financial Accounting:
More informationAccounting Friday 25 October 2013 Paper One Question book
2013 Senior External Examination Accounting Friday 25 October 2013 Paper One Question book 9 am to 12:10 pm Time allowed Perusal time: 10 minutes Working time: 3 hours Examination materials provided Paper
More informationACCN1 (JUN09ACCN101) General Certificate of Education Advanced Subsidiary Examination June Introduction to Financial Accounting TOTAL
Centre Number Surname Candidate Number For Examiner s Use Other Names Candidate Signature Examiner s Initials Accounting General Certificate of Education Advanced Subsidiary Examination June 2009 ACCN1
More informationAccounting *P44292A0120* P44292A. Paper 1. Pearson Edexcel International GCSE. Friday 8 May 2015 Morning Time: 2 hours 30 minutes.
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Friday 8 May 2015 Morning Time: 2 hours 30 minutes You do not need any other
More information* * (plus 5 minutes reading time). Note making is not allowed during reading time. The marks allocated to each question are shown in brackets.
Book-keeping and Accounts Level 1 8991-01-001 (NU-BKA 01) This paper must be returned with the candidate s work, otherwise the entry will be void and no result will be issued. *8991001* Candidate s name
More informationresources controlled - as a result of past events - future economic benefits expected to flow
Discussion class notes : FAC1503 Financial accounting the provision of financial information to mainly external parties recording of transactions and the preparation of financial statements Management
More informationFinancial Statements Questionnaire 2018
Financial Statements Questionnaire 2018 Please ensure this questionnaire is completed, signed and included with your records Client Name Balance Date 31 March 2018 Phone: Fax: E-mail: Signature Date If
More informationSCHEDULE OF FEES AND CHARGES. Current as at 18 September 2017
SCHEDULE OF FEES AND CHARGES Current as at 18 September 2017 1 CONTENTS About this Schedule of Fees and Charges 3 SERVICE ONE Alliance Bank s fees and their collection 3 Definitions of some terms used
More informationPaper 5 - Financial Accounting
Paper 5 - Financial Accounting Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right side indicate full marks. Answer Question No. 1 which is compulsory and any five from the rest.
More informationCurrent liability Creditors mark each
.. Jacintha Trading and Profit and Loss Account for the year ended 3 December 200 $ $ $ Opening stock 60000 Sales 63000 Purchases 26500 Less sales returns 550 Less purchases returns 475 62450 26025 Add:
More informationNet Profit Add: interest on drawings: Jane x Allen x 5
ACCOUNTING ORDINARY LEVEL GRADE 12 1 1. Jane and Allen are in partnership. Their partnership agreement provides that 1. Interest on capital is allowed at 10% per annum. 2. Interest on drawings is charged
More informationAccredited Accounting Technician Examination. Paper 1 Fundamentals of Accounting and Computerized Accounts
Accredited Accounting Technician Examination Pilot Examination Paper Paper 1 Fundamentals of Accounting and Computerized Accounts Questions & Answers Booklet The Suggested Answers given in this booklet
More informationACCOUNTING SEMESTER 1. Final Exam Review
ACCOUNTING SEMESTER 1 Final Exam Review 1 ACCOUNTING SEMESTER 1 30 T & F 70 MC Questions with pictures 5-Worksheet 6-Journals 3-Cash Payment Journal 2 CHAPTER 1 What is the accounting equation? Assets=Liabilities
More informationACCOUNTING. From the following information provided by the proprietor of the business, Jeremy, you are required to prepare:
Question 1 From the following information provided by the proprietor of the business, Jeremy, you are required to prepare: a. Trading and Profit and Loss Account for the year ended 31 December 20x1 (13
More information